Coinbase/GDAX refunded everyone who lost Ether in the flash crash, plus honored the transactions in which people got Ether for as little as the price of a Snickers bar. They took it in the shorts on this deal, so if they did it on purpose it has to go down as one of the stupidest moves ever.

Long John wrote:Coinbase/GDAX refunded everyone who lost Ether in the flash crash, plus honored the transactions in which people got Ether for as little as the price of a Snickers bar. They took it in the shorts on this deal, so if they did it on purpose it has to go down as one of the stupidest moves ever.

texmex66 wrote:Were you one of the lucky ones? Get a refund? Know anyone who did?

I don't trade on GDAX, nor do I know anyone personally who was able to take advantage of the flash crash, which lasted only seconds as I understand it. I do know people who quickly made crazy-low buy orders for Ether AFTER that.

This troublesome child called crypto is going through some growing pains, and that was one of them.

texmex66 wrote:Were you one of the lucky ones? Get a refund? Know anyone who did?

I don't trade on GDAX, nor do I know anyone personally who was able to take advantage of the flash crash, which lasted only seconds as I understand it. I do know people who quickly made crazy-low buy orders for Ether AFTER that.

This troublesome child called crypto is going through some growing pains, and that was one of them.

I think the important point to remember here is that it isn't the crypto itself (ETH in this case) that was messed up, but yet again another centralized exchange. Sooner or later, decentralized exchanges (DEX) will be the go-to platform. It will take time and a solid user interface (UI) but we'll get there eventually.

texmex66 wrote:Were you one of the lucky ones? Get a refund? Know anyone who did?

I don't trade on GDAX, nor do I know anyone personally who was able to take advantage of the flash crash, which lasted only seconds as I understand it. I do know people who quickly made crazy-low buy orders for Ether AFTER that.

This troublesome child called crypto is going through some growing pains, and that was one of them.

I think the important point to remember here is that it isn't the crypto itself (ETH in this case) that was messed up, but yet again another centralized exchange. Sooner or later, decentralized exchanges (DEX) will be the go-to platform. It will take time and a solid user interface (UI) but we'll get there eventually.

I just hope with DEX, the performance is better. It makes you wonder how that's gonna work with HF. When everyone is gonna be going after the nodes.

Here is the thing about ETH. I use it more than any other crypto. Fast transaction times, very active development, working product with infrastructure, MEW is user friendly, projects are actually using it, and a bunch of trading pairs on exchanges.

My issue is that ICOs raise funds in ETH and therefore need to dump it in order to raise their own fiat funds. This creates an odd incentive cycle - which is why I like the NEO-GAS template better. If a project/ICO runs on NEO, it only needs the GAS. Therefore, they won't be dumping NEO on the market in order to raise funds, just GAS. And while I like that system of smart contract platform better, Ethereum has a big first mover advantage.

So the question would be, sell ETH for what? What do you think will outperform it? It is one of the more stable cryptos out there, even with people needing to sell it to raise funds. Part of the reason it hasn't moved much is because it shot up so quick too. It went from single digits to triple digits very fast.

Traded my remaining Ethereum for Neo. Not only because the latest Parity hack makes me nervous about ETH's market value, but because even without that factor I think Neo stands a much better chance of doubling its price, in time. $600 ETH? I very much doubt it. $50 Neo? Perhaps.

At the time ETH must have been about $300 and Neo about $25, based on what I posted. I sold some of the Neo over $40 (into Bitcoin, which took off) and the rest yesterday over $45. So that worked out fine. Neo did reach almost $50 and may well break it soon.

But I was dead WRONG about Ethereum. It did more than double from $300. I bought back in at $455 with Bitcoin proceeds and sold today at $750. I think it got up to $780+ and is at $740 as I speak. Will it get to $1,000 before Crypto-Daddy gets home and takes the keys to the T-bird away? I would not be at all surprised. Nor would a drop back to $400 surprise me. Hardly anything would surprise me any more.